Pensions & Investments — Frequently Asked Questions

Pension Products

Q: How do I check my pension value?

Customers can view their current pension value by logging into their online account at any time. Alternatively, they can request a valuation statement by calling us — statements are typically issued within 5 working days.

Q: Can I transfer my pension to another provider?

Yes. Customers can transfer their pension to another registered pension scheme. For defined benefit (final salary) transfers over £30,000, FCA rules require the customer to obtain independent financial advice before the transfer can proceed. Transfer timescales are typically 4–6 weeks.

Q: How do I update my nominated beneficiaries?

Customers can update their nominated beneficiaries at any time by logging into their online account or by calling us. For pensions, beneficiary nominations are an expression of wish (not legally binding) — the scheme trustees have discretion in death benefit payments.

Q: What are my retirement options?

From age 55 (rising to 57 from April 2028), customers can access their pension in several ways: take up to 25% as a tax-free lump sum, enter flexible drawdown, purchase an annuity, or take the entire fund as cash (subject to income tax). We strongly recommend taking independent financial advice before making retirement decisions.

Bond Products

Q: What is a Capital Investment Bond?

A Capital Investment Bond is a single-premium life assurance policy that invests in a range of funds. It offers the ability to withdraw up to 5% of the original investment each year on a tax-deferred basis. It is not a deposit account and the value can go down as well as up.

Q: Can I switch funds within my bond?

Yes. Customers can switch between available funds at any time at no additional charge. Switches are typically processed within 2 business days. The current fund range and factsheets are available on our website.

Q: What happens to my bond when I die?

On the death of the last life assured, the bond pays out to the named beneficiaries or the estate. A chargeable event may arise, and a certificate will be issued to the personal representatives. Bonds held in trust may have different tax treatment.

General Queries

Q: How do I make a complaint?

Customers can make a complaint by phone, email, or letter. We acknowledge all complaints within 5 business days and aim to resolve within 8 weeks. If the customer is not satisfied with our response, they can refer the matter to the Financial Ombudsman Service (FOS) within 6 months of our final response.

Q: How do I report a bereavement?

We have a dedicated bereavement team. The caller should provide the name and date of birth of the deceased, the date of death, and the policy/plan number if known. We will guide them through the next steps and required documentation (death certificate, grant of probate/letters of administration).

Q: How do I update my address or contact details?

Customers can update their address, phone number, and email via their online account or by calling us. For security, address changes requested by phone require identity verification. Changes to bank details for payment purposes require additional verification steps.